Cryptocurrency derivative exchange FTX has unveiled a new business unit that focuses on the needs of the institutional investors on Wall Street.
FTX Access will focus on index products, analytical tools, and advisory services among enterprise-grade clients in the initial stages.
The Bankman’s led exchange aims to expand the service to include crypto derivatives exposure and related structured products for high net worth investors.
The firm has also announced plans to integrate digital asset custody and management in the newly launched unit.
Gustavo Miguel will lead the US division of the new venture, while Jon Cheesman will serve as the Global head of FTX Access. Miguel previously headed the global derivatives arm at Coinbase.
The launch, which is part of an expansion plan by FTX, follows a recently unveiled gaming business and the establishment of operations in the European market.
Source: The Block